by Saman Kojouri, Press TV
Iran’s membership in the Interexchange Electronic Union; Iran has joined the interexchange electronic union which brings together the mercantile exchanges of the Commonwealth of Independent States (CIS) and Eastern European countries.
Iran’s membership was announced at the second meeting of the interexchange Electronic Union held in Tehran. The IEU had earlier requested the membership of Iran’s Mercantile Exchange in the union. The event is considered as a turning point in the history of Iran’s capital market.
The bulk of trade between the IEU members currently stands at around 10 billion dollars. In view of the high demand for various products in the markets of IEU members, Iran’s membership in this international union provides a smooth and safe channel for local manufacturers and traders to upgrade their businesses and increase their production and exports, eventually bolstering the capital market.
With over 25 billion dollars worth of commodity trade last year, Iran’s Mercantile Exchange is the largest and highest value commodity market in Middle East and is registered with the Association of Futures Markets (AFM) and the Federation of Euro-Asian Stock Exchanges (FEAS), which is a non-profit international organization comprising the main stock exchanges in Eastern Europe, the Middle East and Central Asia.